Lighthouse Investment Partners LLC Acquires 10,000 Shares of STMicroelectronics (NYSE:STM)

Lighthouse Investment Partners LLC increased its holdings in STMicroelectronics (NYSE:STM) by 25.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the semiconductor producer’s stock after buying an additional 10,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in STMicroelectronics were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Mather Group LLC. bought a new stake in shares of STMicroelectronics in the 1st quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. boosted its stake in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after acquiring an additional 734 shares in the last quarter. Ridgewood Investments LLC purchased a new position in STMicroelectronics in the second quarter worth $51,000. Denver PWM LLC acquired a new position in shares of STMicroelectronics during the second quarter worth $72,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of STMicroelectronics during the 1st quarter valued at $113,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

STM opened at $30.36 on Friday. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The firm has a 50 day moving average of $30.70 and a two-hundred day moving average of $38.00. The firm has a market capitalization of $27.43 billion, a PE ratio of 7.78, a P/E/G ratio of 3.42 and a beta of 1.58.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was down 25.3% on a year-over-year basis. On average, analysts anticipate that STMicroelectronics will post 1.66 EPS for the current year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is 7.95%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein dropped their target price on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Finally, TD Cowen decreased their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.